Markel merged with sister insurance companies
TORONTO, Ont. — Markel Insurance and its two sister companies Lombard Insurance and Commonwealth Insurance have been combined to operate as one entity, Northbridge Insurance.
The three organizations have been sister companies for 17 years, but have been operated independently.
Federated Insurance will continue to operate as the company’s captive agency distribution arm, the company announced.
“This is an exciting time for us” said Silvy Wright, president and CEO of Northbridge. “By combining the strength of our talent, the diversity of our products and leveraging the scale of our operations as one company, we will be better positioned for long-term growth.”
Northbridge is one of Canada’s leading commercial insurance companies, with $1.3 billion in premiums. It’s a wholly owned subsidiary of Fairfax Financial Holdings.
Markel policyholders will not be affected, the company said in an FAQ on its Web site www.northbridgefinancial.ca.
“At this time everything remains the same. We will keep you informed of any changes, as they happen,” the company advised. A detailed FAQ and other information is available on the company’s Web site.
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